It’s little wonder that moms and dads often cringe at the thought that the teenager in their household is getting his driver’s license. That’s because not only do they know that their auto insurance costs are likely to increase, but, according to the Institute for Highway Safety, those insurance costs are likely to be steep because teenage drivers have triple the amount of accidents as do drivers over the age of 20. There are a number of things to take into consideration when purchasing car insurance for your teenage driver that can make the impact on your household budget much smaller in addition to giving them the more than adequate coverage they need while on the road.
Consult an Agent
It’s a smart idea to talk with a Insurance Raleigh agent or an agent in your local area about adding your teen driver to your already existing auto insurance policy. Many insurance vendors offer rate discounts for having multiple drivers living in the same household on the same insurance policy and this can prove to be an much more economical way to get auto insurance for your teenage driver.
Consider Minimum Liability Requirements
It’s important to investigate the minimum requirements for liability insurance coverage in your state so that your teen driver demonstrates financial responsibility and is at least covered by the minimum amount of liability coverage required to drive legally within state boundaries. In addition to liability insurance, which covers damages your teen does to another person or his property while driving, it’s also important to protect yourself financially by spending a bit more for collision coverage to cover damages to the vehicle they are driving as well as comprehensive insurance which covers damage that occurs due to something other than a traffic collision, such as vandalism, fire or theft.
Defensive Driving Course
If for some reason you don’t want your teenage driver on your insurance policy and want to purchase a separate policy, insist that your teen take an approved course on defensive driving. This is one of the best ways to obtain rate discounts for drivers under the age of 20. Drivers under the age of 20 are considered high risk drivers, and in almost all case will pay a lot in premiums if a course is not taken.
Consider Make and Model of Car in Use
If your teenager will be driving his own vehicle, be sure to invest in an economical model that includes such safety features as air bags and anti-lock brakes. Car insurance rates will be much more affordable if your teenager is driving a vehicle equipped with a variety of safety features that help reduce their risk of accident. Encourage your teenager to maintain good grades, as most insurance companies also offer a Good Student Discount on insurance rates for teens who maintain a “B” or better grade average. And if your teenager is not included in your healthcare plan, investigate adding a personal injury protection (PIP) feature to their insurance policy in order to cover medical expenses in the event of accident.